Short answer is probably not.
The restoration pack gives a number of dimensions for the axles.
'49 Chevrolet Front Axle Specs.
The 1/2-ton axle is unique and most likely the dropped axle is for a 1/2-ton. The 1-1/2 ton axle varies a little depending on exactly what model you have.
But if the question is can you adapt the 1/2-ton axle to the bigger truck the answer is probably yes, though using the bigger hubs might be a challenge.
And unless you reduce weight on the truck substantially I'd be worried that using 1/2-ton brakes would be dangerous.
Another approach to consider is having your axle dropped. There are places that can do this and you may find one willing to take on your larger axle.